Company Registration No. 09755230 (England and Wales)
The Potting Shed (Liverpool) Limited
Unaudited accounts
for the year ended 31 March 2023
The Potting Shed (Liverpool) Limited
Unaudited accounts
Contents
The Potting Shed (Liverpool) Limited
Company Information
for the year ended 31 March 2023
Company Number
09755230 (England and Wales)
Registered Office
Eastham Hall
Eastham
Wirral
CH62 0AF
The Potting Shed (Liverpool) Limited
Statement of financial position
as at 31 March 2023
Tangible assets
556,505
542,592
Cash at bank and in hand
25,064
127,350
Creditors: amounts falling due within one year
(528,695)
(475,159)
Net current liabilities
(288,267)
(323,809)
Net assets
268,238
218,783
Called up share capital
1
1
Revaluation reserve
217,354
217,354
Profit and loss account
50,883
1,428
Shareholders' funds
268,238
218,783
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 19 December 2023 and were signed on its behalf by
K Perryman
Director
Company Registration No. 09755230
The Potting Shed (Liverpool) Limited
Notes to the Accounts
for the year ended 31 March 2023
The Potting Shed (Liverpool) Limited is a private company, limited by shares, registered in England and Wales, registration number 09755230. The registered office is Eastham Hall, Eastham, Wirral, CH62 0AF.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% Reducing Balance
Fixtures & fittings
15% Straight Line
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
The Company was established to refurbish a building which would be used to create a new restaurant. As at 31st March 2019 the property refurbishment was almost complete and the restaurant was ready to open to the public and commence trade on 1st April 2019.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The Potting Shed (Liverpool) Limited
Notes to the Accounts
for the year ended 31 March 2023
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
4
Tangible fixed assets
Land & buildings
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2022
460,000
-
126,990
586,990
Additions
-
43,950
-
43,950
At 31 March 2023
460,000
43,950
126,990
630,940
At 1 April 2022
-
-
44,398
44,398
Charge for the year
-
10,988
19,049
30,037
At 31 March 2023
-
10,988
63,447
74,435
At 31 March 2023
460,000
32,962
63,543
556,505
At 31 March 2022
460,000
-
82,592
542,592
Amounts falling due within one year
Amounts due from group undertakings etc.
191,364
-
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
327,513
349,831
Obligations under finance leases and hire purchase contracts
44,241
-
Trade creditors
29,571
33,916
Taxes and social security
23,843
14,373
Loans from directors
100,527
74,039
7
Average number of employees
During the year the average number of employees was 32 (2022: 29).